KONTAN.CO.ID - JAKARTA. The Indonesian rupiah closed the week lower on Friday, February 23, 2024, and is expected to weaken further in early trading on Monday, February 26. On Friday, the rupiah closed at Rp 15,589 per US dollar in the spot market, down 0.05% on the day but up 0.17% on the week. The Bank Indonesia (BI) reference rate, the Jakarta Interbank Spot Dollar Rate (Jisdor), closed at Rp 15,589 per US dollar, up 0.26% on the day and 0.41% on the week. Ibrahim Assuaibi, Director of PT Laba Forexindo Berjangka, said the rupiah weakened at the end of the week following statements from US Federal Reserve officials about interest rates. Hawkish comments and strong labor data further weakened early bets on a rate cut.
The Indonesian Rupiah Ends the Week Lower, Expected to Weaken Further
KONTAN.CO.ID - JAKARTA. The Indonesian rupiah closed the week lower on Friday, February 23, 2024, and is expected to weaken further in early trading on Monday, February 26. On Friday, the rupiah closed at Rp 15,589 per US dollar in the spot market, down 0.05% on the day but up 0.17% on the week. The Bank Indonesia (BI) reference rate, the Jakarta Interbank Spot Dollar Rate (Jisdor), closed at Rp 15,589 per US dollar, up 0.26% on the day and 0.41% on the week. Ibrahim Assuaibi, Director of PT Laba Forexindo Berjangka, said the rupiah weakened at the end of the week following statements from US Federal Reserve officials about interest rates. Hawkish comments and strong labor data further weakened early bets on a rate cut.